were not written into what we -- not you, because you are much younger, but what we learned and barry knapp, by the way, happy birthday, barry, he's emailing me already about this, you're coming on too. about -- but i think that's a different one. >> we are morphing into the political show but that is congress issue. that for 30 years they have ceded that power or allowed the executive to take the power. they can take it back anytime they want but that said, there's little to stop through section 301 or whatever the type of tariff the income administration wants to apply, there is little at this moment that congress seems willing to do to stop that so we have to sue much of that if not all of that is going to come to bear. >> did you have a -- reference in this show? >> i have no idea. i will leave it to the viewer to google aipa . >> i'm sorry, wing it. yahoo it. >> most search is being done on amazon now. >> i gemini now. they told me the other day what was the performance of stock and they said we don't have access. >> make a deal with cnbc. it's going to cost them. next on power lunch,

barry knapp, do you put a lot of stock in how the market does day one?> well, i think that most important thing going on from a market's perspective is the treasury market, which rallied the last few days of the year, but i think that was solely a function of expensive financing over the turn to maintain shorts. there's no doubt that one of the highest conviction trades for the beginning of the year is treasury yields going up that this idea that we're struggling with debt management, we're struggling with debt and deficits. so you have a little cover late in the year but then people were able to reset shorts. so i think more so than even this mark down of the atlanta fed gdp now, the real near-term risk for equity markets, it was evident late last year in the performance of things like small caps and equal-weighted s&p is further extension of the move higher in rates. you know, we're 10-year tips to get to 2.5%. 10-year nominal rates to approach 5 back in that high that we made in '23, surely the equity market is going to struggle mightily and probably